Parity-odd effects and polarization rotation in graphene

We show that the presence of parity-odd terms in the conductivity (i.e. in the polarization tensor of Dirac quasiparticles in graphene) leads to the rotation of polarization of the electromagnetic waves passing through suspended samples of graphene. Parity-odd Chern-Simons-type contributions appear in external magnetic fields, giving rise to a quantum Faraday effect (though other sources of parity-odd effects may also be discussed). The estimated order of the effect is well above the sensitivity limits of modern optical instruments.